Stocks head for jobs-related gains

The government's monthly report showed employers added 114,000 jobs in September, better than the 110,000 economists surveyed by CNNMoney had expected. And the unemployment rate dropped to 7.8%, falling below 8% for the first time since early 2009.

Markets in Europe were also boosted by the news. Britain's FTSE 100 rose 0.5%, the DAX in Germany added 1.1% and France's CAC 40 gained 1.4%.

Later in the day, the Federal Reserve will release data on August consumer credit, which is expected to have expanded by $5 billion, according to a survey of analysts by Briefing.com.